(Kitco News) – Collective Mining Executive Chair Ari Sussman says drilling at the Apollo system has entered a new phase after the discovery of the deeper RAMP zone reopened growth at depth, reshaping expectations for the Guayabales Project in Colombia and setting the stage for an aggressive year of exploration in 2026.
After drilling reached roughly 1,000 meters below surface, Apollo appeared to be approaching its limits, though that changed with the identification of the RAMP zone, which now extends mineralization to about 1.4 kilometers below surface and remains open. Recent drilling has shifted the profile of the system from medium-grade bulk intercepts toward higher-grade mineralization over meaningful widths. “So we’re in growth mode, and this thing’s getting bigger and better,” Sussman said.
The RAMP zone has delivered some of the strongest results seen at Apollo to date, including multiple occurrences of visible gold, which had previously appeared in select high-grade subzones higher in the system, but is now becoming more common in the deepest drilling, according to Sussman. He added that two of the most recent holes, including one still awaiting assays, are the deepest ever drilled at Apollo and may point to improving grades at depth.
Although these intercepts occur more than a kilometer below surface, future access would rely on horizontal development rather than deep vertical shafts. Collective plans to drive a tunnel designed to intersect Apollo at approximately 1,000 meters below surface, placing the high-grade RAMP mineralization close to planned haulage infrastructure. “Although we’re talking about intercepts that are 1.4 kilometers below surface, the haulage tunnel for where you will access this deposit will be very close to this high-grade RAMP,” he said.
Collective plans to drill up to 100,000 meters in 2026, adding to more than 108,000 meters completed to date. The program is designed to support a maiden mineral resource estimate that advances beyond a typical inferred-only release. Sussman said the company is targeting a significant portion of the resource in the indicated category, which could allow Collective to move more quickly toward advanced economic studies. “The goal for our maiden resource is not to announce inferred resource,” he said. “It’s to get up to 50%, maybe higher, into indicated as well.”
Beyond Apollo, Collective is preparing to step up exploration across the broader Guayabales land package. Drilling will resume at the Trap target, where previous results returned long intercepts and point toward potential porphyry-style mineralization. At the San Antonio project, recent drilling has identified a shallow vein system overlying a deeper porphyry target, with assay results expected to determine its scale and grade potential.
Sussman said the company also plans to begin an exploration drift in the second half of 2026, subject to permitting. Under Colombian mining regulations, exploration tunnels are allowed, provided no mineral production occurs, with any material encountered stockpiled until full environmental approvals are in place. The drift is intended to improve underground access, accelerate drilling, and remove future development bottlenecks. “The exploration drift makes a lot of sense,” Sussman said, noting it could eventually form part of future mine infrastructure.
Collective’s exploration progress comes against a backdrop of improving market and jurisdictional sentiment. The company’s shares rose around 265% in 2025, lifting its market capitalization to roughly $1.4 billion, despite the project remaining pre-resource. Sussman said interest from both mining-focused and generalist investors is returning as gold prices establish a higher base and large producers face declining growth profiles beyond 2030.
Sussman also pointed to improving sentiment toward Colombia ahead of upcoming elections, noting stability, currency strength, and growing investor confidence. Sussman said the country is increasingly being viewed as an attractive destination for large-scale mining investment, particularly as global demand for precious and critical metals continues to rise.
In October, Collective strengthened its balance sheet with a C$140 million financing completed amid strong institutional demand. The raise included participation from strategic shareholder Agnico Eagle Mines and new generalist investors, including Wellington Management. Sussman said the capital supports an accelerated exploration strategy while preserving flexibility around future development decisions.
With work on a maiden mineral resource expected to begin in the fourth quarter of 2026 and a potential public release in early 2027, Sussman believes Collective is entering a pivotal period. While no decision has been made on development or a potential sale, he said the company is positioning itself for multiple outcomes by advancing studies, infrastructure planning, and permitting early. “Right now it’s a builder’s market, not a seller’s market,” he said.
Watch the full interview on the Kitco Mining YouTube channel to hear Ari Sussman discuss Apollo’s expanding footprint, drilling plans for 2026, and how Collective Mining is positioning itself for the next phase of growth at Guayabales.
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